Allspring Global Investments Holdings LLC Sells 66,703 Shares of Titan America SA $TTAM

Allspring Global Investments Holdings LLC lowered its holdings in shares of Titan America SA (NYSE:TTAM) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,306,080 shares of the company’s stock after selling 66,703 shares during the period. Allspring Global Investments Holdings LLC owned about 1.25% of Titan America worth $35,214,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Millennium Management LLC acquired a new position in Titan America during the 1st quarter worth about $9,188,000. Woodline Partners LP acquired a new stake in shares of Titan America in the first quarter valued at about $2,028,000. Jane Street Group LLC bought a new position in shares of Titan America during the first quarter worth about $1,266,000. Geode Capital Management LLC acquired a new position in shares of Titan America in the second quarter worth approximately $3,591,000. Finally, JPMorgan Chase & Co. bought a new stake in Titan America in the second quarter valued at approximately $149,000.

Titan America Stock Up 0.3%

TTAM stock opened at $17.00 on Monday. The stock’s 50 day simple moving average is $16.87 and its 200 day simple moving average is $16.84. The company has a market cap of $3.13 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.96 and a current ratio of 2.99. Titan America SA has a fifty-two week low of $13.29 and a fifty-two week high of $19.57.

Titan America (NYSE:TTAM) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Titan America had a net margin of 11.08% and a return on equity of 18.35%. The firm had revenue of $398.42 million for the quarter. During the same period last year, the company posted $0.19 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts expect that Titan America SA will post 1.09 earnings per share for the current fiscal year.

Titan America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 18th. Titan America’s dividend payout ratio (DPR) is 15.84%.

Analyst Upgrades and Downgrades

TTAM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Zacks Research upgraded shares of Titan America from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. HSBC cut shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 price target on the stock. in a research report on Thursday, May 7th. Finally, Citigroup boosted their price objective on Titan America from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Titan America has an average rating of “Hold” and a consensus target price of $17.75.

Titan America Company Profile

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).